Berry Global Group (NYSE:BERY) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Berry Global Group (NYSE:BERY) from a buy rating to a hold rating in a research note issued to investors on Friday.

BERY has been the topic of a number of other reports. Truist Financial reissued a hold rating and issued a $68.00 price target (down from $75.00) on shares of Berry Global Group in a research report on Wednesday, March 27th. UBS Group lowered their price objective on Berry Global Group from $89.00 to $77.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Bank of America increased their target price on Berry Global Group from $74.00 to $81.00 and gave the stock a buy rating in a research note on Friday, May 10th. Finally, Robert W. Baird reaffirmed a neutral rating and issued a $65.00 price target (down previously from $68.00) on shares of Berry Global Group in a research report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Berry Global Group presently has an average rating of Hold and an average target price of $71.40.

Berry Global Group Stock Performance

NYSE:BERY opened at $62.82 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.74 and a debt-to-equity ratio of 2.64. The firm’s fifty day simple moving average is $60.17 and its 200 day simple moving average is $60.47. The stock has a market cap of $7.19 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. Berry Global Group has a twelve month low of $53.92 and a twelve month high of $69.93.

Berry Global Group (NYSE:BERY) last issued its quarterly earnings data on Thursday, May 9th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.90 by $0.05. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.16 billion. Berry Global Group had a net margin of 4.12% and a return on equity of 26.55%. Berry Global Group’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the business posted $1.96 earnings per share. As a group, research analysts predict that Berry Global Group will post 7.44 EPS for the current year.

Berry Global Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Monday, June 3rd. Berry Global Group’s dividend payout ratio (DPR) is 26.13%.

Insider Buying and Selling at Berry Global Group

In other news, CFO Mark W. Miles sold 1,118 shares of Berry Global Group stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $60.29, for a total value of $67,404.22. Following the completion of the sale, the chief financial officer now directly owns 119,384 shares in the company, valued at $7,197,661.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Mark W. Miles sold 1,118 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $60.29, for a total transaction of $67,404.22. Following the transaction, the chief financial officer now directly owns 119,384 shares of the company’s stock, valued at approximately $7,197,661.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter T. Thomas purchased 1,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $59.50 per share, for a total transaction of $59,500.00. Following the completion of the purchase, the director now owns 4,407 shares in the company, valued at $262,216.50. The disclosure for this purchase can be found here. Company insiders own 4.00% of the company’s stock.

Hedge Funds Weigh In On Berry Global Group

Several institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in Berry Global Group by 643.5% during the fourth quarter. SG Americas Securities LLC now owns 12,082 shares of the industrial products company’s stock valued at $814,000 after buying an additional 10,457 shares during the last quarter. Raymond James & Associates increased its stake in shares of Berry Global Group by 10.2% in the 4th quarter. Raymond James & Associates now owns 221,583 shares of the industrial products company’s stock worth $14,932,000 after purchasing an additional 20,422 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Berry Global Group by 63.6% in the 4th quarter. Pacer Advisors Inc. now owns 25,330 shares of the industrial products company’s stock worth $1,707,000 after purchasing an additional 9,844 shares during the period. Assenagon Asset Management S.A. purchased a new position in Berry Global Group during the fourth quarter valued at $5,611,000. Finally, Tectonic Advisors LLC grew its holdings in Berry Global Group by 1.6% during the fourth quarter. Tectonic Advisors LLC now owns 139,869 shares of the industrial products company’s stock valued at $9,426,000 after purchasing an additional 2,168 shares during the period. Institutional investors own 95.36% of the company’s stock.

Berry Global Group Company Profile

Berry Global Group, Inc manufactures and supplies non-woven, flexible, and rigid products in consumer and industrial end markets in the United States, Canada, Europe, and internationally. The company operates through Consumer Packaging International; Consumer Packaging North America; Engineered Materials; and Health, Hygiene & Specialties segments.